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📊 Shiba Inu Eyes Monthly High as Large Holders Increase Their Accumulation Leading meme coin Shiba Inu (SHIB) has seen a steady price climb over the past week. This price growth has been fueled by accumulation by its large holders, commonly known as whales. This consistent buying pressure has positioned SHIB for further potential gains, with the coin now eyeing a monthly high. 🔸 Shiba Inu’s Reduced Selling and Whale Interest Fuel Rally According to IntoTheBlock, SHIB has noted a 16% rise in its large holders’ netflow over the past week. These are whale addresses that hold more than 0.1% of the meme coin’s circulating supply. Their netflow tracks the difference between the coins they buy and the amount they sell over a specific period. When large holders’ netflow increases for an asset, it means that more tokens flow into the wallets of major investors or institutions than flow out. This trend indicates that these holders are accumulating the asset, signaling confidence in its future value. Further, SHIB’s price rally has also been driven by the general market’s reduced selling activity out of fear of incurring losses. Per Santiment’s data, the coin’s negative Network Realized Profit/Loss metric indicates that many traders who sold their coins over the past week did so at a loss. Hence, the desire to make gains on their investments has deterred many SHIB holders from selling, contributing to its price hike. 🔸 #SHIB Price Prediction: Profit-Taking Could Cause Decline At press time, the meme coin trades at $0.000022. If selling pressure remains minimal and its whales intensify their accumulation, the Shiba Inu coin price will breach resistance at $0.000026 and revisit the $0.000033 monthly high. On the other hand, if traders start to turn a profit and selling pressure strengthens, the meme coin could shed its recent gains and drop below $0.000021. #Shibainu
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🇺🇸 Bitcoin Keith Michael Saylor Meets Trump's Son Yesterday, MicroStrategy CEO Michael Saylor met with Donald Trump's son Eric Trump at Mar-a-Lago. The details of their meeting have not been publicly disclosed, but they likely discussed cryptocurrency-
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📈 Why Is the Crypto Market Up Today? The total crypto market cap (TOTAL) and Bitcoin (BTC) have noted decent gains over the past day, with the former rising by nearly $100 billion. DeXe (DEXE) made its mark among the altcoins today, nearly closing above $20 over the last 24 hours. 🔸 The Crypto Market Is In Green The total crypto market cap surged by nearly $100 billion in the past 24 hours, reaching $3.34 trillion. Currently, TOTAL is holding above the critical $3.28 trillion support level, reflecting strong momentum and renewed investor confidence. This recent uptick positions TOTAL closer to testing the $3.49 trillion resistance. To achieve this milestone, the market cap must first solidify $3.28 trillion as support and bounce off it. Securing this level would provide a strong foundation for continued growth in the near term. However, failure to maintain $3.28 trillion as support could lead to a decline toward $3.10 trillion. Such a drop would erase the gains recorded over the past few days, emphasizing the importance of sustaining key levels to preserve market optimism. 🔸 #Bitcoin Celebrates A Major Milestone Bitcoin is trading at $97,077, having successfully turned $95,668 into a strong support floor. The cryptocurrency is now nearing the critical $100,000 level, signaling renewed investor optimism and strong market momentum. As Bitcoin celebrates 16 years since the Genesis block, this milestone has infused bullish sentiment into the market. The enthusiasm surrounding this historic event is contributing to BTC’s recent rise, highlighting its importance in driving confidence among investors. On the other hand, if the current optimism fades, Bitcoin’s price could drop below $95,668, jeopardizing the bullish outlook. A decline to $93,625 could follow, highlighting the need for sustained momentum to maintain upward progress. #Crypto #BTC
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🔥 Dogecoin price stalls as #DOGE ETF approval odds fall Dogecoin price remained in a tight range this week as Polymarket odds for a potential DOGE ETF declined. Dogecoin (DOGE), the largest meme coin, rose by about 6% on Dec. 2, bringing its seven-day gains to 7.5%. However, the momentum may reverse as a Polymarket poll shows that the odds of the Securities and Exchange Commission approving a spot DOGE ETF this year dropped to 26%, down from a high of 50% last week. In contrast, Polymarket users expect that the SEC will approve a Solana (SOL) ETF later this year, with odds being at 76%. The odds of a Ripple (XRP) ETF are at 70%. The weaker odds for a DOGE ETF likely stem from the absence of an application by any financial services company. In contrast, WisdomTree, a $100 billion asset manager, has filed for a Ripple ETF. Additionally, the SEC has a Jan. 31 deadline to approve or reject Solana ETFs proposed by companies like Grayscale, 21Shares, and VanEck. Still, there is a possibility that one or more companies will file for a Dogecoin ETF if the SEC, under Paul Atkins, shows flexibility on crypto funds. Such an ETF could see approval more easily, as Dogecoin is a proof-of-work cryptocurrency similar to Bitcoin. DOGE also holds a significant position in the crypto industry, with a market cap of $50 billion—approximately $16 billion lower than MicroStrategy’s. MicroStrategy has multiple leveraged and covered call ETFs. #Dogecoin price analysis The daily chart shows that DOGE bottomed at $0.2635 in December and has since recovered to $0.3382. It has moved toward the 50-day moving average, while the Relative Strength Index is attempting to break above the descending trendline. The Percentage Price Oscillator has formed a bullish crossover. Additionally, the accumulation and distribution indicator remains elevated, suggesting that investors are gradually accumulating DOGE. #DOGE
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⭐️ Why is Bitcoin Price Going Up Today? The market has been showing signs of strength, especially with the recent break rally. This suggests that the bearish trend might be losing momentum, increasing the probability of an upward breakout. Altcoins are also looking promising, with several coins potentially completing their corrections and gearing up for the next upward movement in Q1. Bitcoin is at a crucial juncture. The price is testing important resistance levels, and breaking above them could open the door for further upside potential. On the weekly Bitcoin chart, Bitcoin remains in a larger bull market. Although there has been a slight slowdown recently, it mirrors the pattern observed in 2023. In October of that year, a bullish crossover on the MACD preceded a significant upward move, which could potentially repeat itself. MicroStrategy’s recent Bitcoin purchase is one of the main reasons behind Bitcoin’s recent surge. Led by Michael Saylor, the company continues to bet on Bitcoin’s long-term value. This rally is also part of a larger trend in the cryptocurrency market, fueled by factors like: 🔺 Institutional Interest: Big companies and investors are getting more involved in Bitcoin. 🔺 Clearer Regulations: More countries are providing clearer rules, making investors more confident. 🔺 Positive Economic Signals: Global financial concerns are driving people to Bitcoin as a safe asset. 🔺 Bitcoin as a Reserve: More companies are seeing Bitcoin as a valuable asset to hold for the long term. 🔸 What’s Next For #Bitcoin ? Looking at the daily chart, Bitcoin has reacted to the 23.6% Fibonacci retracement level. This is an important support level, often seen in corrective phases. While it’s possible that Bitcoin’s current pullback might be complete, more evidence is needed before confirming this. Bitcoin has not yet confirmed a local top. The recent rally started early yesterday, and it’s important to watch key resistance levels. The first key level to look out for is the previous swing high at $97,450. #BTC
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